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The world is lagging behind the goal of limiting the increase in global temperatures by 2020 to 2 degrees Celsius, according to a new report by the International Energy Agency. To make up for lost time, the agency recommends at least doubling biofuel production annually while raising advanced biofuel capacity sixfold through targeted government support and other measures. "We agree with the IEA that biofuels offer real GHG emissions reductions today and that we must increase biofuel usage if we want to mitigate the impacts of climate change," said Bliss Baker, spokesman for the Global Renewable Fuels Alliance.

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While the global biofuels industry faces challenges, increases in ethanol blending rates in Brazil, Argentina and Indonesia provide reason for optimism, the International Energy Agency stated in its World Energy Outlook. In the report, the IEA also projected that renewable energy technology investment will increase by $130 billion from the current level to $400 billion in 2030.

Nuclear power can help reduce the world's carbon dioxide emissions while providing baseload generation, according to the International Energy Agency's 2014 World Energy Outlook. Nuclear power plants "can contribute to the reliability of the power system where they increase the diversity of power generation technologies in the system," the report states.

The world needs to increase investment in renewables from $1.6 trillion annually to $2 trillion each year to prevent global temperatures from rising more than 2 degrees Celsius, says the International Energy Agency. "The reliability and sustainability of our future energy systems depend on investment, but this won’t materialize unless there are credible policy frameworks in place as well as stable access to long-term sources of finance," says IEA chief Maria van der Hoeven.

Global biofuel production capacity must more than double by 2020 in order to hit production targets, according to a report by the International Energy Agency. Production levels were flat in 2012 due to a rise in feedstock prices, according to the report. "Despite much talk by world leaders, and despite a boom in renewable energy over the last decade, the average unit of energy produced today is basically as dirty as it was 20 years ago," said IEA Executive Director Maria van der Hoeven.

The U.S. is on course to become the world's leading oil producer by 2020 and could become a net oil exporter by 2030, according to the International Energy Agency's World Energy Outlook 2012. Global energy demand will increase by more than one-third by 2035, the report forecasts. "Consumption of biomass [for power generation] and biofuels grows four-fold, with increasing volumes being traded internationally," the report states, noting that the world has sufficient bioenergy resources to meet biofuel demand without affecting food production.